March 2014 Flash Report

Fourth quarter US GDP growth was revised higher to 2.6% with unemployment at 6.7%. In mid-March, the Federal Reserve announced round three of tapering to negative market reaction as Fed Chair Janet Yellen suggested interest rates would rise six months after ending quantitative easing; Yellen’s more dovish remarks yesterday sent markets soaring. Geopolitical tensions flared in Ukraine when Russian President Putin seized the once-autonomous Republic of Crimea.